http://newsroom.transunion.com/
en-usTue, 26 Sep 2017 23:56:39 +0200Tue, 05 Sep 2017 17:38:48 +0200http://content.presspage.com/clients/150_1104.pnghttp://newsroom.transunion.com/
144TransUnion to Present at Barclays 2017 Global Financial Services Conferencehttp://newsroom.transunion.com/transunion-to-present-at-barclays-2017-global-financial-services-conference/
http://newsroom.transunion.com/transunion-to-present-at-barclays-2017-global-financial-services-conference/TransUnion (NYSE: TRU) today announced that Todd Cello, CFO, will present at the Barclays 2017 Global Financial Services Conference on Tuesday, September 12, 2017. The presentation is scheduled to begin at 7:15 a.m. CT (8:15 a.m. ET). A live webcast of the presentation will be made available at the TransUnion Investor Relations website at www.transunion.com/tru. A replay will be available on the company’s website following the conclusion of the presentation.

About TransUnion

TransUnion is a leading global risk and information solutions provider to businesses and consumers. The company provides consumer reports, risk scores, analytical services and decisioning capabilities to businesses. Businesses embed its solutions into their process workflows to acquire new customers, assess consumer ability to pay for services, identify cross-selling opportunities, measure and manage debt portfolio risk, collect debt, verify consumer identities and investigate potential fraud. Consumers use its solutions to view their credit profiles and access analytical tools that help them understand and manage their personal information and take precautions against identity theft. www.transunion.com

]]>TRUTue, 05 Sep 2017 16:00:00 -0500TransUnion Announces Earnings Release Date for Third Quarter 2017 Resultshttp://newsroom.transunion.com/transunion-announces-earnings-release-date-for-third-quarter-2017-results/
http://newsroom.transunion.com/transunion-announces-earnings-release-date-for-third-quarter-2017-results/TransUnion (NYSE: TRU) will publish its financial results for the third quarter ending September 30, 2017, in a press release to be issued by 6:00 a.m. Central Time on Friday, October 27, 2017. The company will hold a conference call on the same day at 8:00 a.m. Central Time to discuss its quarterly financial results. The press release and a live webcast of the earnings conference call will be available on the TransUnion Investor Relations website at http://www.transunion.com/tru.
]]>TRUWed, 09 Aug 2017 07:30:00 -0500TransUnion Reports Second Quarter 2017 Resultshttp://newsroom.transunion.com/transunion-reports-second-quarter-2017-results/
http://newsroom.transunion.com/transunion-reports-second-quarter-2017-results/TransUnion (NYSE:TRU) (the “Company”) today announced financial results for the quarter ended June 30, 2017.

Total revenue was $475 million, an increase of 12 percent (11 percent on a constant currency basis) compared with the second quarter of 2016. Acquisitions accounted for a 1 percent increase in revenue. Net income attributable to TransUnion was $65 million compared with $17 million in the second quarter of 2016. Diluted earnings per share was $0.34 compared with $0.09 in the second quarter of 2016.

Adjusted EBITDA was $186 million, an increase of 17 percent (16 percent on a constant currency basis) compared with the second quarter of 2016. Adjusted EBITDA margin was 39.2 percent, an increase of 170 basis points compared with the second quarter of 2016. Adjusted Diluted Earnings per Share was $0.47, an increase of 26 percent compared with the second quarter of 2016.

“TransUnion delivered another strong quarter, highlighted by double-digit revenue, Adjusted EBITDA and Adjusted EPS growth while continuing to expand Adjusted EBITDA margin,” said Jim Peck, TransUnion's president and chief executive officer. “We continue to see broad-based, innovation-driven growth across the company, and we are making strategic investments for future growth. Given our performance in the first half, we feel confident about the rest of the year and our long-term outlook.”

“We also announced today that, effective August 18, Al Hamood, our CFO for nearly 10 years, is leaving to pursue other opportunities. Al has done an outstanding job in his tenure at TransUnion and has been a great friend and partner to me as we’ve transformed the company. I want to thank Al for all of his contributions and wish him well in his new endeavor,” Peck said.

“We’re very excited to announce that Todd Cello has been named our new CFO. Todd has been with TransUnion for almost 20 years and has been the CFO of both our USIS and International segments as well as VP, Strategic and Financial Planning through our changes in ownership. Todd has distinguished himself as a strong, thoughtful leader with highly valuable operating and corporate experience. Through our succession planning process we have been preparing Todd for this role. I have no doubt he will continue to do an excellent job,” Peck concluded.

Second Quarter 2017 Segment Results

U.S. Information Services (USIS)

USIS revenue was $298 million, an increase of 16 percent compared with the second quarter of 2016.

Online Data Services revenue was $191 million, an increase of 13 percent over the prior year.

Marketing Services revenue was $46 million, an increase of 23 percent over the prior year.

Decision Services revenue was $61 million, an increase of 20 percent over the prior year.

Operating income was $84 million, an increase of 102 percent compared with the second quarter of 2016. Adjusted Operating Income was $110 million, an increase of 26 percent compared with the second quarter of 2016.

International

International revenue was $87 million, an increase of 13 percent (10 percent on a constant currency basis) compared with the second quarter of 2016.

Developed markets revenue was $31 million, an increase of 11 percent (15 percent on a constant currency basis) over the prior year.

Emerging markets revenue was $56 million, an increase of 13 percent (8 percent on a constant currency basis) over the prior year.

Operating income was $13 million, an increase of 56 percent compared with the second quarter of 2016. Adjusted Operating Income was $27 million, an increase of 12 percent (11 percent on a constant currency basis) compared with the second quarter of 2016.

Consumer Interactive

Consumer Interactive revenue was $105 million, a decrease of 1 percent compared with the second quarter of 2016.

Operating income was $50 million, an increase of 14 percent compared with the second quarter of 2016. Adjusted Operating Income was $51 million, an increase of 13 percent compared with the second quarter of 2016.

Liquidity and Capital Resources

Cash and cash equivalents were at $142 million June 30, 2017 and $182 million at December 31, 2016. Total debt, including the current portion of long-term debt, remained relatively flat at $2.4 billion at June 30, 2017 compared with December 31, 2016.

For the six months ended June 30, 2017, cash provided by operating activities increased to $174 million compared with $150 million for the same period in 2016 due primarily to the increase in operating performance. Cash used in investing activities was $105 million compared with $323 million for the same period in 2016 due primarily to a decrease in cash used for acquisitions and an increase in investment proceeds. Capital expenditures were $58 million compared with $55 million for the same period in 2016. Cash used in financing activities was $110 million compared with a source of cash of $181 million for the same period in 2016. The change was primarily due to lower borrowings and the purchase of treasury stock in 2017 compared with the same period in 2016.

2017 Full Year Outlook

For the full year of 2017, we are raising our revenue, Adjusted EBITDA and Adjusted Diluted Earnings per Share guidance as follows. Consolidated revenue is expected to be between $1.87 billion and $1.88 billion, an increase of 9 to 10 percent on a constant currency basis. Adjusted EBITDA is expected to be between $730 million and $740 million, an increase of 15 to 16 percent. Adjusted Diluted Earnings per Share is expected to be between $1.79 and $1.82, an increase of 19 to 21 percent.

Consistent with our previous full year guidance, the full year revenue guidance includes approximately 1 percent growth from acquisitions, with no significant impact on revenue and Adjusted EBITDA from foreign exchange rates.

2017 Third Quarter Outlook

For the third quarter of 2017, consolidated revenue is expected to be between $470 million and $475 million, an increase of 7 to 8 percent on a constant currency basis compared with the third quarter of 2016. Adjusted EBITDA is expected to be between $185 million and $189 million, an increase of 11 to 14 percent. Adjusted Diluted Earnings per Share is expected to be between $0.45 and $0.46, an increase of 21 to 24 percent.

The third quarter revenue guidance has no significant impact from acquisitions, with no significant impact on revenue and Adjusted EBITDA from foreign exchange rates.

Earnings Webcast Details

In conjunction with this release, TransUnion will host a conference call and webcast today at 8:00 a.m. Central Time to discuss the business results for the quarter and certain forward-looking information. This session may be accessed at www.transunion.com/tru. A replay of the call will also be available at this website following the conclusion of the call.

Chief Financial Officer Transition

On July 21, 2017, Samuel A. Hamood, Executive Vice President and Chief Financial Officer, tendered his resignation from all positions with TransUnion and its subsidiaries, effective as of August 18, 2017. Also on July 21, 2017, the Board of Directors accepted Mr. Hamood’s resignation and appointed Todd M. Cello to succeed Mr. Hamood as Executive Vice President and Chief Financial Officer, effective as of August 18, 2017. Mr. Cello joined TransUnion in 1997 as a staff accountant and has served in a number of roles within the company’s Finance function, including as the chief financial officer of our USIS segment from 2005 through 2008, and as our Vice President – Strategic and Financial Planning from 2009 through 2015, before taking on his current role in 2015 as the chief financial officer of our International segment. Please see our Form 8-K filed with the SEC on July 25, 2017 for additional details.

About TransUnion

TransUnion is a leading global risk and information solutions provider to businesses and consumers. The Company provides consumer reports, risk scores, analytical services and decisioning capabilities to businesses. Businesses embed its solutions into their process workflows to acquire new customers, assess consumer ability to pay for services, identify cross-selling opportunities, measure and manage debt portfolio risk, collect debt, verify consumer identities and investigate potential fraud. Consumers use its solutions to view their credit profiles and access analytical tools that help them understand and manage their personal information and take precautions against identity theft. www.transunion.com

Availability of Information on TransUnion’s Website

Investors and others should note that TransUnion routinely announces material information to investors and the marketplace using SEC filings, press releases, public conference calls, webcasts and the TransUnion Investor Relations website. While not all of the information that the Company posts to the TransUnion Investor Relations website is of a material nature, some information could be deemed to be material. Accordingly, the Company encourages investors, the media, and others interested in TransUnion to review the information that it shares on www.transunion.com/tru.

Non-GAAP Financial Measures

This earnings release presents certain growth rates on Schedule 1 assuming foreign currency exchange rates are consistent between years. This allows financial results to be evaluated without the impact of fluctuations in foreign currency exchange rates. This earnings release also presents Adjusted EBITDA, Adjusted EBITDA Margin, segment Adjusted Operating Income, segment Adjusted Operating Margin, Adjusted Effective Tax Rate, Adjusted Net Income (Loss) and Adjusted Diluted Earnings per Share. These are important financial measures for the Company but are not financial measures as defined by GAAP. We present these financial measures as supplemental measures of our operating performance because we believe they provide meaningful information regarding our performance and provide a basis to compare operating results between periods. We present Adjusted Operating Income, Adjusted EBITDA and Adjusted Net Income as supplemental measures of our operating performance because these measures eliminate the impact of certain items that we do not consider indicative of our cash operations and ongoing operating performance. Also, Adjusted EBITDA is a measure frequently used by securities analysts, investors and other interested parties in their evaluation of the operating performance of companies similar to ours. In addition, our board of directors and executive management team use Adjusted EBITDA as a compensation measure. Furthermore, under the credit agreement governing our senior secured credit facility, our ability to engage in activities such as incurring additional indebtedness, making investments and paying dividends is tied to a ratio based on Adjusted EBITDA. These financial measures should be reviewed in conjunction with the relevant GAAP financial measures and are not presented as alternative measures of GAAP. Other companies in our industry may define or calculate these measures differently than we do, limiting their usefulness as comparative measures. Because of these limitations, these non-GAAP financial measures should not be considered in isolation or as substitutes for performance measures calculated in accordance with GAAP, including operating income, operating margin, effective tax rate, net income (loss) attributable to the Company, earnings per share or cash provided by operating activities. Reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures are presented in the attached Schedules.

This earnings release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of TransUnion’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those described in the forward-looking statements. Any statements made in this earnings release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements. These statements often include words such as “anticipate,” “expect,” “suggest,” “plan,” “believe,” “intend,” “estimate,” “target,” “project,” “should,” “could,” “would,” “may,” “will,” “forecast,” “outlook,” “potential,” “continues,” “seeks,” “predicts,” or the negative of these words and other similar expressions. Factors that could cause actual results to differ materially from those described in the forward-looking statements include macroeconomic and industry trends and adverse developments in the debt, consumer credit and financial services markets; our ability to provide competitive services and prices; our ability to retain or renew existing agreements with large or long-term customers; our ability to maintain the security and integrity of our data; our ability to deliver services timely without interruption; our ability to maintain our access to data sources; government regulation and changes in the regulatory environment; litigation or regulatory proceedings; regulatory oversight of “critical activities”; our ability to effectively manage our costs; economic and political stability in the United States and international markets where we operate; our ability to effectively develop and maintain strategic alliances and joint ventures; our ability to timely develop new services and the market’s willingness to adopt our new services; our ability to manage and expand our operations and keep up with rapidly changing technologies; our ability to make acquisitions and integrate the operations of acquired businesses; our ability to protect and enforce our intellectual property, trade secrets and other forms of unpatented intellectual property; our ability to defend our intellectual property from infringement claims by third parties; the ability of our outside service providers and key vendors to fulfill their obligations to us; further consolidation in our end-customer markets; the increased availability of free or inexpensive consumer information; losses against which we do not insure; our ability to make timely payments of principal and interest on our indebtedness; our ability to satisfy covenants in the agreements governing our indebtedness; our ability to maintain our liquidity; share repurchase plans; our reliance on key management personnel; our controlling stockholders; and other one-time events and other factors that can be found in our Annual Report on Form 10-K for the year ended December 31, 2016, and any subsequent Quarterly Report on Form 10-Q or Current Report on Form 8-K, which are filed with the Securities and Exchange Commission and are available on TransUnion’s website (www.transunion.com/tru) and on the Securities and Exchange Commission’s website (www.sec.gov). Many of these factors are beyond our control. The forward-looking statements contained in this earnings release speak only as of the date of this earnings release. We undertake no obligation to publicly release the result of any revisions to these forward-looking statements to reflect the impact of events or circumstances that may arise after the date of this earnings release.

TRANSUNION AND SUBSIDIARIES

Consolidated Balance Sheets

(in millions, except per share data)

June 30, 2017

December 31,2016

Unaudited

Assets

Current assets:

Cash and cash equivalents

$

142.0

$

182.2

Trade accounts receivable, net of allowance of $7.3 and $6.2

290.7

277.9

Other current assets

117.6

89.9

Total current assets

550.3

550.0

Property, plant and equipment, net of accumulated depreciation and amortization of $267.0 and $235.6

185.4

197.5

Goodwill, net

2,199.3

2,173.9

Other intangibles, net of accumulated amortization of $901.9 and $815.8

1,709.1

1,762.3

Other assets

112.5

97.5

Total assets

$

4,756.6

$

4,781.2

Liabilities and stockholders’ equity

Current liabilities:

Trade accounts payable

$

120.5

$

114.2

Short-term debt and current portion of long-term debt

100.1

50.4

Other current liabilities

173.6

208.7

Total current liabilities

394.2

373.3

Long-term debt

2,297.3

2,325.2

Deferred taxes

564.9

579.0

Other liabilities

29.9

30.7

Total liabilities

3,286.3

3,308.2

Stockholders’ equity:

Common stock, $0.01 par value; 1.0 billion shares authorized at June 30, 2017 and December 31, 2016, 186.1 million and 183.9 million shares issued at June 30, 2017 and December 31, 2016, respectively, and 181.9 million shares and 183.2 million shares outstanding as of June 30, 2017 and December 31, 2016, respectively

1.9

1.8

Additional paid-in capital

1,835.4

1,844.9

Treasury stock at cost; 4.2 million and 0.7 million shares at June 30, 2017 and December 31, 2016, respectively

(138.8)

(5.3)

Accumulated deficit

(176.5)

(303.8)

Accumulated other comprehensive loss

(151.1)

(174.8)

Total TransUnion stockholders’ equity

1,370.9

1,362.8

Noncontrolling interests

99.4

110.2

Total stockholders’ equity

1,470.3

1,473.0

Total liabilities and stockholders’ equity

$

4,756.6

$

4,781.2

TRANSUNION AND SUBSIDIARIES

Consolidated Statements of Income (Unaudited)

(in millions, except per share data)

Three Months Ended June 30,

Six Months EndedJune 30,

2017

2016

2017

2016

Revenue

$

474.8

$

425.7

$

929.7

$

831.4

Operating expenses

Cost of services (exclusive of depreciation and amortization below)

151.9

143.8

303.0

292.9

Selling, general and administrative

149.2

144.4

293.8

276.6

Depreciation and amortization

58.2

74.0

116.3

146.5

Total operating expenses

359.3

362.2

713.1

716.0

Operating income

115.5

63.5

216.6

115.4

Non-operating income and (expense)

Interest expense

(22.6)

(21.3)

(44.1)

(41.7)

Interest income

1.4

1.1

2.7

1.9

Earnings from equity method investments

2.0

2.0

3.7

3.9

Other income and (expense), net

(4.2)

(9.3)

(10.8)

(16.9)

Total non-operating income and (expense)

(23.4)

(27.5)

(48.5)

(52.8)

Income before income taxes

92.1

36.0

168.1

62.6

Provision for income taxes

(24.8)

(16.3)

(36.3)

(28.3)

Net income

67.3

19.7

131.8

34.3

Less: net income attributable to the noncontrolling interests

(2.4)

(2.4)

(4.5)

(4.4)

Net income attributable to TransUnion

$

64.9

$

17.3

$

127.3

$

29.9

Earnings per share:

Basic

$

0.36

$

0.09

$

0.70

$

0.16

Diluted

$

0.34

$

0.09

$

0.67

$

0.16

Weighted average shares outstanding:

Basic

181.9

182.5

182.3

182.4

Diluted

189.3

184.4

189.8

184.2

TRANSUNION AND SUBSIDIARIES

Consolidated Statements of Cash Flows (Unaudited)

(in millions)

Six Months Ended June 30,

2017

2016

Cash flows from operating activities:

Net income

$

131.8

$

34.3

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

116.3

146.5

Net loss on refinancing transaction

5.0

—

Amortization and loss on fair value of hedge instrument

0.3

1.2

Equity in net income of affiliates, net of dividends

(3.2)

1.7

Deferred taxes

(18.3)

(4.1)

Amortization of discount and deferred financing fees

1.3

1.5

Stock-based compensation

15.9

8.9

Provision for losses on trade accounts receivable

1.8

1.8

Other

(3.9)

0.9

Changes in assets and liabilities:

Trade accounts receivable

(11.4)

(22.9)

Other current and long-term assets

(42.2)

(28.6)

Trade accounts payable

3.5

2.2

Other current and long-term liabilities

(22.7)

6.1

Cash provided by operating activities

174.2

149.5

Cash flows from investing activities:

Capital expenditures

(58.0)

(54.9)

Proceeds from sale of trading securities

2.5

0.9

Purchases of trading securities

(1.5)

(1.2)

Proceeds from sale of other investments

46.9

19.7

Purchases of other investments

(36.0)

(17.3)

Acquisitions and purchases of noncontrolling interests, net of cash acquired

(58.7)

(270.6)

Other

0.3

—

Cash used in investing activities

(104.5)

(323.4)

Cash flows from financing activities:

Proceeds from senior secured term loan B

—

150.0

Proceeds from senior secured term loan A

—

55.0

Proceeds from senior secured revolving line of credit

105.0

145.0

Payments of senior secured revolving line of credit

(60.0)

(145.0)

Repayments of debt

(24.9)

(23.8)

Debt financing fees

(5.0)

(3.4)

Proceeds from issuance of common stock and exercise of stock options

16.3

2.3

Treasury stock purchased

(133.5)

—

Excess tax benefit

—

2.2

Distributions to noncontrolling interests

(0.3)

(1.0)

Payment of contingent obligation

(7.8)

(0.3)

Cash (used in) provided by financing activities

(110.2)

181.0

Effect of exchange rate changes on cash and cash equivalents

0.3

1.0

Net change in cash and cash equivalents

(40.2)

8.1

Cash and cash equivalents, beginning of period

182.2

133.2

Cash and cash equivalents, end of period

$

142.0

$

141.3

SCHEDULE 1

TRANSUNION AND SUBSIDIARIES

As Reported and Constant Currency Growth Rates - Unaudited

Three Months Ended June 30, 2017 Percent Change

Six Months Ended June 30, 2017 Percent Change

Consolidated:

Revenue as reported

11.5

%

11.8

%

Revenue constant currency

11.1

%

11.1

%

Operating income

81.9

%

87.6

%

Operating income constant currency

82.1

%

87.4

%

Adjusted Operating Income

24.0

%

26.9

%

Adjusted Operating Income constant currency

23.8

%

26.3

%

Adjusted EBITDA

16.7

%

18.9

%

Adjusted EBITDA constant currency

16.5

%

18.3

%

International:

International Consolidated

Revenue as reported

12.5

%

17.4

%

Revenue constant currency

10.2

%

13.0

%

Operating income

56.0

%

63.6

%

Operating income constant currency

57.6

%

62.0

%

Adjusted Operating Income

11.8

%

24.4

%

Adjusted Operating Income constant currency

10.6

%

21.0

%

Developed Markets

Revenue as reported

11.4

%

15.6

%

Revenue constant currency

14.7

%

16.0

%

Emerging Markets

Revenue as reported

13.2

%

18.3

%

Revenue constant currency

7.7

%

11.3

%

Constant currency percentage changes assume foreign currency exchange rates are consistent between years. This allows financial results to be evaluated without the impact of fluctuations in foreign currency exchange rates.

(2) For the three months ended June 30, 2017, consisted of the following adjustments to operating income: a $0.5 million loss on the divestitures of a small business operation and a $(0.1) million reduction in contingent consideration expense from previous acquisitions. For the three months ended June 30, 2017, consisted of the following adjustments to non-operating income and expense: $3.9 million of acquisition expenses. For six months ended June 30, 2017, consisted of the following adjustments to operating income: a $0.5 million loss on the divestitures of a small business operation and a $(0.2) million reduction in contingent consideration expense from previous acquisitions. For the six months ended June 30, 2017, consisted of the following adjustments to non-operating income and expense: $6.5 million of acquisition expenses and $0.1 million of miscellaneous.

For the three months ended June 30, 2016, consisted of the following adjustments to operating income: a $(0.1) million adjustment to contingent consideration expense from previous acquisitions and a $(0.2) million adjustment to business optimization expenses. For the three months ended June 30, 2016, consisted of the following adjustments to non-operating income and expense: $7.9 million of acquisition expenses. For the six months ended June 30, 2016, consisted of the following adjustments to operating income: a $0.1 million loss on the divestitures of two small business operations and a $(0.5) million adjustment to business optimization expenses. For the six months ended June 30, 2016, consisted of the following adjustments to non-operating income and expense: $13.5 million of acquisition expenses.

(4) For the three months ended June 30, 2017, consisted of the following adjustments to non-operating income and expense: $0.5 million of fees incurred in connection with a secondary offering of shares of TransUnion common stock by certain of our stockholders; $0.5 million of loan fees; a $0.2 million mark-to-market loss related to ineffectiveness of our interest rate hedge; $(0.2) million of currency remeasurement of our foreign operations and $(0.1) million of miscellaneous. For the six months ended June 30, 2017, consisted of the following adjustments to non-operating income and expense: $5.0 million of fees related to the refinancing of our senior secured credit facility; $0.9 million of fees incurred in connection with secondary offerings of shares of TransUnion common stock by certain of our stockholders; $0.8 million of loan fees; a $0.1 million mark-to-market loss related to ineffectiveness of our interest rate hedge; $(1.6) million of currency remeasurement of our foreign operations and $(0.4) million of miscellaneous.

For the three months ended June 30, 2016, consisted of the following adjustments to operating income: a $0.3 million charge for certain legal and regulatory matters. For the three months ended June 30, 2016, consisted of the following adjustments to non-operating income and expense: $0.9 million of fees incurred in connection with the filing of a registration statement and a secondary offering of shares of TransUnion common stock by certain of our stockholders; $0.5 million of loan fees; $0.3 million of currency remeasurement of our foreign operations and a $0.3 million mark-to-market loss related to ineffectiveness of our interest rate hedge. For the six months ended June 30, 2016, consisted of the following adjustments to operating income: a $0.3 million charge for certain legal and regulatory matters. For the six months ended June 30, 2016, consisted of the following adjustments to non-operating income and expense: $1.9 million of fees incurred in connection with the filing of registration statements and secondary offerings of shares of TransUnion common stock by certain of our stockholders; a $1.0 million mark-to-market loss related to ineffectiveness of our interest rate hedge; $0.8 million of loan fees and $0.3 million of currency remeasurement of our foreign operations.

SCHEDULE 3

TRANSUNION AND SUBSIDIARIES

Adjusted Net Income and Adjusted Earnings Per Share - Unaudited

(in millions, except per share data)

Three Months EndedJune 30,

Six Months Ended June 30,

2017

2016

2017

2016

Net income attributable to TransUnion

$

64.9

$

17.3

$

127.3

$

29.9

Adjustments before income tax items:

Stock-based compensation(1)

11.6

10.4

24.8

15.7

Mergers and acquisitions, divestitures and business optimization(2)

4.3

7.6

6.9

13.1

Technology transformation(3)

—

11.3

—

23.3

Other(4)

0.6

1.8

4.4

3.5

Amortization of certain intangible assets (5)

33.6

44.7

67.1

89.0

Total adjustments before income tax items

50.1

75.8

103.1

144.6

Change in provision for income taxes per schedule 4

(26.8)

(24.7)

(62.0)

(47.9)

Adjusted Net Income

$

88.3

$

68.4

$

168.4

$

126.5

Adjusted Earnings per Share:

Basic

$

0.49

$

0.37

$

0.92

$

0.69

Diluted(6)

$

0.47

$

0.37

$

0.89

$

0.69

Weighted-average shares outstanding:

Basic

181.9

182.5

182.3

182.4

Diluted(6)

189.3

184.4

189.8

184.2

As a result of displaying amounts in millions, rounding differences may exist in the table above.

(2) For the three months ended June 30, 2017, consisted of the following adjustments to operating income: a $0.5 million loss on the divestitures of a small business operation and a $(0.1) million reduction in contingent consideration expense from previous acquisitions. For the three months ended June 30, 2017, consisted of the following adjustments to non-operating income and expense: $3.9 million of acquisition expenses. For six months ended June 30, 2017, consisted of the following adjustments to operating income: a $0.5 million loss on the divestitures of a small business operation and a $(0.2) million reduction in contingent consideration expense from previous acquisitions. For the six months ended June 30, 2017, consisted of the following adjustments to non-operating income and expense: $6.5 million of acquisition expenses and $0.1 million of miscellaneous.

For the three months ended June 30, 2016, consisted of the following adjustments to operating income: a $(0.1) million adjustment to contingent consideration expense from previous acquisitions and a $(0.2) million adjustment to business optimization expenses. For the three months ended June 30, 2016, consisted of the following adjustments to non-operating income and expense: $7.9 million of acquisition expenses. For the six months ended June 30, 2016, consisted of the following adjustments to operating income: a $0.1 million loss on the divestitures of two small business operations and a $(0.5) million adjustment to business optimization expenses. For the six months ended June 30, 2016, consisted of the following adjustments to non-operating income and expense: $13.5 million of acquisition expenses.

(4) For the three months ended June 30, 2017, consisted of the following adjustments to non-operating income and expense: $0.5 million of fees incurred in connection with a secondary offering of shares of TransUnion common stock by certain of our stockholders; a $0.2 million mark-to-market loss related to ineffectiveness of our interest rate hedge; $(0.2) million of currency remeasurement of our foreign operations and $0.1 million of miscellaneous. For the six months ended June 30, 2017, consisted of the following adjustments to non-operating income and expense: $5.0 million of fees related to the refinancing of our senior secured credit facility; $0.9 million of fees incurred in connection with secondary offerings of shares of TransUnion common stock by certain of our stockholders; a $0.1 million mark-to-market loss related to ineffectiveness of our interest rate hedge; and $(1.6) million of currency remeasurement of our foreign operations.

For the three months ended June 30, 2016, consisted of the following adjustments to operating income: a $0.3 million charge for certain legal and regulatory matters. For the three months ended June 30, 2016, consisted of the following adjustments to non-operating income and expense: $0.3 million of currency remeasurement of our foreign operations; a $0.3 million mark-to-market loss related to ineffectiveness of our interest rate hedge; and $0.9 million of fees incurred in connection with the filing of a registration statement and a secondary offering of shares of TransUnion common stock be certain of our stockholders. For the six months ended June 30, 2016, consisted of the following adjustments to operating income: a $0.3 million charge for certain legal and regulatory matters. For the six months ended June 30, 2016, consisted of the following adjustments to non-operating income and expense: $0.3 million of currency remeasurement of our foreign operations; a $1.0 million mark-to-market loss related to ineffectiveness of our interest rate hedge; and $1.9 million of fees incurred in connections with the filing of registration statements and secondary offerings of shares of TransUnion common stock by certain of our stockholders.

(5) Consisted of amortization of intangible assets from our 2012 change in control and amortization of intangible assets established in business acquisitions after our 2012 change in control.

(6) For the three and six months ended June 30, 2017, there were zero and less than 0.1 million anti-dilutive weighted stock-based awards outstanding, respectively. In addition, there were no contingently issuable stock-based awards outstanding that were excluded from the diluted earnings per share calculation because the contingencies had not been met. For the three and six months ended June 30, 2016, there were less than 0.1 million anti-dilutive stock-based awards outstanding. In addition, there were 6.5 million contingently issuable stock-based awards outstanding that were excluded from the diluted earnings per share calculation because the market conditions had not been met.

SCHEDULE 4

TRANSUNION AND SUBSIDIARIES

Effective Tax Rate and Adjusted Effective Tax Rate - Unaudited

(dollars in millions)

Three Months Ended June 30,

Six Months Ended June 30,

2017

2016

2017

2016

Income before income taxes

$

92.1

$

36.0

$

168.1

$

62.6

Total adjustments before income taxes per Schedule 3

50.1

75.8

103.1

144.6

Adjusted income before income taxes

$

142.3

$

111.8

$

271.2

$

207.2

Provision for income taxes

(24.8)

(16.3)

$

(36.3)

(28.3)

Adjustments for income taxes:

Tax effect of above adjustments(1)

(16.7)

(27.0)

(34.6)

(51.8)

Eliminate impact of adjustments for unremitted foreign earnings(2)

—

—

(4.3)

—

Eliminate impact of excess tax benefits for share compensation(3)

(11.4)

—

(23.0)

—

Other(4)

1.3

2.3

—

3.9

Total adjustments for income taxes

(26.8)

(24.7)

(62.0)

(47.9)

Adjusted provision for income taxes

$

(51.7)

$

(41.1)

$

(98.3)

$

(76.2)

Effective tax rate

27.0

%

45.3

%

21.6

%

45.2

%

Adjusted Effective Tax Rate

36.3

%

36.7

%

36.2

%

36.8

%

As a result of displaying amounts in millions, rounding differences may exist in the table above.

(1) Tax rates used to calculate the tax expense impact are based on the nature of each item.

(2) For the three months ended June 30, 2017, consisted of the following adjustments to operating income: a $0.5 million loss on the divestitures of a small business operation (International) and a $(0.1) million reduction in contingent consideration expense from previous acquisitions (USIS). For the six months ended June 30, 2017, consisted of the following adjustments to operating income: a $0.5 million loss on the divestitures of a small business operation (International) and a $(0.2) million reduction in contingent consideration expense from previous acquisitions (USIS).

For the three months ended June 30, 2016, consisted of the following adjustments to operating income: a $(0.1) million adjustment to contingent consideration expense from previous acquisitions (USIS); and a $(0.2) million adjustment to business optimization expenses (Corporate). For the six months ended June 30, 2016, consisted of the following adjustments to operating income: a $0.2 million loss on divestitures of two small business operations (International); and a $(0.5) million adjustment to business optimization expenses (Corporate).

As a result of displaying amounts in millions, rounding differences may exist in the table above.

]]>TRUTue, 25 Jul 2017 05:47:05 -0500Report Card: The State of Generation Z’s Financeshttp://newsroom.transunion.com/report-card-the-state-of-generation-zs-finances/
http://newsroom.transunion.com/report-card-the-state-of-generation-zs-finances/TransUnion Survey Provides Comprehensive Analysis of the Generation’s Financial Literacy TransUnion survey provides comprehensive analysis of the Generation Z’s understanding of money and credit management today.
]]>CHICAGO, June 28, 2017 — Global risk information provider TransUnion® (NYSE: TRU) published a first-of-its kind report on Generation Z’s understanding of money and credit management today, which includes findings from a financial survey of more than 1,000 teenagers between the ages of 13 and 17.

The report explores the financial knowledge, experience and habits of American teenagers who will soon enter the adult population and independently contribute to America’s consumer economy. Topics covered include where teens learn about money, saving and spending habits, and experience with different payment types.

TransUnion also asked participating teens to grade their money management skills from A to F. Overall, most teens believe they are performing well, with 61 percent giving themselves an A or B.

“As a company, we’re committed to ensuring teens come into adulthood financially literate and credit-responsible,” said Heather Battison, Vice President of TransUnion. “To do so, we needed to take a step back and understand how these teens approach money and financial responsibility. We were pleasantly surprised by Generation Z’s foundational understanding of how to manage their money, but also recognize a clear need for more credit education.”

The detailed findings of the new study are available at transunion.com/genz2017 and suggest that on the whole, Generation Z is committed to sound money management, but still lack crucial experience in credit and borrowing.

Generation Z considers budget before purchase.

A vast majority of teens – 73 percent – consider the cost of an item before making a purchase, but only 58 percent consider whether or not they have enough money saved before making a purchase. Nearly all (83 percent) respondents say they are saving money, but only about 52 percent are saving for something in particular.

Teens are proactive in honing financial expertise.

Teens are most likely to learn about finances from their parents, at school, or through real-world experiences, according to the study. Interestingly, 77 percent of teens who learn about money from a parent or guardian are actively seeking out advice on the topic.

Teens are getting experience with credit at a young age.

About one in five (19 percent) of today’s teens are authorized to use a parent or guardian’s credit card. More than half (54 percent) of those with authorized access to a credit card say they received authorization at or before the age of 14. Surprisingly, 10 percent were added before they were teenagers (less than 13 years old).

Generation Z prefers debit to credit.

Compared to the number of teenagers with access to a credit card (as an authorized user), more than twice as many have a debit card. Forty percent of teens say they have a debit card, versus 19 percent who have authorized access to a parent or guardian’s card.

“Nothing beats real-world experience managing money and credit” said Battison. “The more practice teens can get saving money, spending responsibly, using credit and paying bills now, the more comfortable they will be managing their finances as adults. What this study shows is that today’s teens are hungry for that experience.”

To educate the next generation of credit users on the importance of credit health, Heather Battison offers five topics for parents to address with their teens:

Spend less than you earn. It may seem like it goes without saying, but it’s worth talking about. Having a line of credit that is larger than your monthly income can be a temptation for anyone, especially a teen. Let them know that even if the card allows it, spending more than your monthly income or allowance can lead to missed payments, which can have a negative impact on credit.

Learn responsible credit card use. Using a credit card — like a secured card that requires a security deposit as collateral to start a line of credit — for small purchases can help your teen establish credit history and see how on-time payments can positively impact credit.

Practice patience. Building credit doesn’t happen overnight, which is why it is so important for your teen to start early. Many habits can help build credit, and showing your teens how your payment history has impacted credit over the years can help them understand the big picture.

Debit doesn’t translate to credit. While debit cards are a great tool to help your teen spend within their financial means, they don’t demonstrate to lenders that they can handle credit. Therefore, debit card transactions don’t count towards a credit score.

After you’re old enough to get a credit card, remember to check your credit report. Regularly checking your credit report will help your teen better understand his or her credit history and increase credit health knowledge. As teens practice good credit habits, they’ll see their credit grow and change over time.

About the Survey

These are the findings from an Ipsos poll conducted May 8-11, 2017 on behalf of TransUnion. For the survey, a sample of 1,001 teenagers between the ages of 13-17 from the continental U.S., Alaska and Hawaii was interviewed online, in English. All teenager respondents were granted permission by their parent/guardian in order to participate in the survey.

About Ipsos Public Affairs

Ipsos Public Affairs is a non-partisan, objective, survey-based research practice made up of seasoned professionals. We conduct strategic research initiatives for a diverse number of American and international organizations, based not only on public opinion research, but elite stakeholder, corporate, and media opinion research.

Ipsos has media partnerships with the most prestigious news organizations around the world. In Canada, the U.S., UK, and internationally, Ipsos Public Affairs is the media polling supplier to Reuters News, the world's leading source of intelligent information for businesses and professionals. Ipsos Public Affairs is a member of the Ipsos Group, a leading global survey-based market research company. We provide boutique-style customer service and work closely with our clients, while also undertaking global research.

]]>TransUnion,Generation Z,Generation Z and Credit,Generation Z and,credit management,credit survey,TRUWed, 28 Jun 2017 05:00:00 -0500TransUnion Announces Earnings Release Date for Second Quarter 2017 Resultshttp://newsroom.transunion.com/transunion-announces-earnings-release-date-for-second-quarter-2017-results/
http://newsroom.transunion.com/transunion-announces-earnings-release-date-for-second-quarter-2017-results/TransUnion (NYSE: TRU) will publish its financial results for the second quarter ending June 30, 2017, in a press release to be issued by 6:00 a.m. Central Time on Tuesday, July 25, 2017. The company will hold a conference call on the same day at 8:00 a.m. Central Time to discuss its quarterly financial results. The press release and a live webcast of the earnings conference call will be available on the TransUnion Investor Relations website at http://www.transunion.com/tru.

About TransUnion

TransUnion is a leading global risk and information solutions provider to businesses and consumers. The company provides consumer reports, risk scores, analytical services and decisioning capabilities to businesses. Businesses embed its solutions into their process workflows to acquire new customers, assess consumer ability to pay for services, identify cross-selling opportunities, measure and manage debt portfolio risk, collect debt, verify consumer identities and investigate potential fraud. Consumers use its solutions to view their credit profiles and access analytical tools that help them understand and manage their personal information and take precautions against identity theft. www.transunion.com

]]>Earnings,Corporate,TRUTue, 27 Jun 2017 15:05:00 -0500Patients May be the New Payers, But Two in Three Do Not Pay Their Hospital Bills in Fullhttp://newsroom.transunion.com/patients-may-be-the-new-payers-but-two-in-three-do-not-pay-their-hospital-bills-in-full/
http://newsroom.transunion.com/patients-may-be-the-new-payers-but-two-in-three-do-not-pay-their-hospital-bills-in-full/New TransUnion Healthcare analysis emphasizes need for hospitals to engage patients earlyChicago, June26, 2017 – A new TransUnion Healthcare (NYSE:TRU) analysis revealed a significant rise in the percentage of patients that didn’t pay their hospital bills in full. Approximately 68% of patients with bills of $500 or less did not pay off the full balance during 2016 – up from 53% in 2015 and 49% in 2014.

The analysis was released today at the 2017 Healthcare Financial Management Association's (HFMA) Annual National Institute in Orlando in conjunction with a book signing by TransUnion Healthcare’s Jonathan Wiik. Wiik’s new book, titled “Healthcare Revolution: The Patient is the New Payer,” explores how the financing and delivery of healthcare has changed significantly due to major shifts in coverage, payments and legislation.

“There are many reasons why more patients are struggling to make their healthcare payments in full, the most prominent of which are higher deductibles and the increase in patient responsibility from 10% to 30% over the last few years,” said Wiik, author of the book and also principal for healthcare revenue cycle management at TransUnion. “This shift in healthcare payments has been taking place for well over a decade, but we are seeing more pronounced changes in how hospital bills are paid during just the last few years.”

Wiik will be signing advanced copies of his new book at ANI on Monday, June 26 at 11 a.m. ET at Booth #701 in the Exhibit Hall. The book will be available for purchase on Amazon in August.

The trend of not paying off balances in full may only just be commencing. TransUnion Healthcare’s analysis projects that by the year 2020, the percentage of patients not paying their bills in full will rise to 95%. The study also revealed that the percentage of patients that have made partial payments toward their hospital bills has gone down dramatically from 89-90% in 2015-2016 to 77% in 2016.

“Higher deductibles and the increase in patient responsibility are causing a decrease in patient payments to providers for patient care services rendered. While uncompensated care has declined, it appears to be primarily due to the increased number of individuals with Medicaid and commercial insurance coverage,” said John Yount, vice president for healthcare products at TransUnion.

Despite the decline in uncompensated care, in 2015 hospitals wrote off approximately $35.7 billion as bad debt or charity care.

“With millions of dollars in unpaid medical debt, hospitals have begun implementing new processes to prevent revenue leakage while also providing a better patient experience. It is one of the reasons TransUnion Healthcare is enhancing its Healthcare Revenue Protection Solutions,” added Yount.

Transunion Healthcare works with hospitals to stratify their bad debt portfolio through its Patient Financial Clearance suite of solutions. The solutions leverage both credit and non-credit data sources to determine patient ability and willingness to pay, and presumptive charity care. The suite of solutions also provide an objective, standardized interview and program enrollment tool that helps financial counselors match uninsured and underinsured patients to the appropriate financial assistance programs.

TransUnion Healthcare, a wholly owned subsidiary of credit and information management company TransUnion, is a trusted provider of revenue cycle management solutions for maximizing reimbursement, improving patient engagement, and ultimately increasing the effectiveness of the healthcare system. We deliver this by leveraging our data assets, market-leading revenue cycle management technologies, and deep insights into consumer financial behavior, to help providers reduce uncompensated care and improve cash flow with one of the most patient-centric revenue cycle management systems on the market today. www.transunionhealthcare.com